Author: nwiadairyoutlook

CME Prices Up In January

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The Upper Midwest Dairy News reports commodity prices on the Chicago
Mercantile Exchange (CME) were up in January. Butter and nonfat dry milk (NFDM) saw the least amount of movement while cheese blocks, barrels, and whey saw the biggest gains from last month. Of these commodities, cheese blocks and barrels were lower than their prices last year at this time, but butter, NFDM, and whey were up. These trends are shown in the graph below.

Chicago Mercantile Exchange: Selected Dairy Commodity Prices


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I-29 Moo University webinar to review research on heat stress in dairy calves on Feb. 21

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The I-29 Moo University 2024 Dairy Webinar Series continues Wednesday, Feb. 21 from 12 noon to 1 p.m. CDT. The webinar will feature a review of research on heat stress in dairy calves with Dr. Jimena Laporta from the University of Wisconsin–Madison.

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Monthly dairy webinar Feb. 7 to focus on the benefits of lung ultrasound in dairy calves

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The Iowa State University Extension and Outreach Dairy Team monthly webinar series continues on Wednesday, Feb. 7 from 12 noon to 1 p.m. The program will focus on the benefits of lung ultrasounds in dairy calves.

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Iowa December Milk Up 1 Percent

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Milk production in Iowa during December 2023 totaled 500 million pounds, up 1 percent from the previous December according to the latest USDA, National Agricultural Statistics Service – Milk Production report. The average number of milk cows during December, at 240,000 head, was 1,000 above last month and up 1,000 from December 2022. Monthly production per cow averaged 2,085 pounds, up 20 pounds from last December.

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Global Dairy Trade Event 348 concluded with the GDT Price Index up 2.3%

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Key Results*

AMF index up 4.3%, average price US$5,842/MT (€5,338/MT) Butter index up 5.8%, average price US$5,906/MT (€5,396/MT) BMP index not available, average price not available Ched index up 1.0%, average price US$4,217/MT (€3,853/MT) LAC index up 1.3%, average price US$760/MT (€694/MT) MOZZ index down 3.3%, average price US$3,830/MT (€3,499/MTSMP index up 1.2%, average price US$2,638/MT (€2,410/MT) WMP index up 1.7%, average price US$3,353/MT (€3,064/MT)

Full results have been published on www.globaldairytrade.info/en/product-results/.

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2024 all milk price is lowered to $20.00 per cwt

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Milk production for 2023 is lowered from last month, with lower milk cow inventories and lower expected milk per cow according to the January World Agricultural Supply and Demand Estimates report. The 2024 production forecast is lower due to a reduced average cow inventory for the year and slower growth in output per cow. USDA’s Cattle report, which will be released January 31, will provide an indication of producer intentions for retaining dairy heifers for addition to the breeding herd.
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Buena Vista County Extension Ag Coffees Continue

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During the winter months, Iowa State University Extension and Outreach works hard to bring local producers important information to help their operations. We put on many annual programs, and this year, Buena Vista excited to offer a new series focused on trending agricultural topics.

“Extension Ag Coffees” is a new series geared towards agricultural producers and rural community members. This series is hosted twice a month through April from 10:00-11:00 a.m. at the Buena Vista County Extension Office. There is no charge to attend, and coffee and donuts will be provided.

Presenters will cover an array of trending agricultural topics that affect our community and lead an active question and answer session.

The January 16 session will have Fred Hall, ISU Dairy Specialist, discussing the 2024 farm income predictions.

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Global Dairy Trade Event 347 concluded with the GDT Price Index up 1.2 Percent

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Key Results*

AMF index up 0.2%, average price US$5,595/MT (€5,063/MT)
Butter index up 2.1%, average price US$5,514/MT (€4,990/MT)
BMP index down 0.1%, average price US$2,384/MT (€2,158/MT)
Ched index down 2.4%, average price US$4,165/MT (€3,769/MT)
LAC index down 5.0%, average price US$753/MT (€681/MT)
MOZZ index unchanged, average price US$3,960/MT (€3,584/MT)
SMP index down 0.9%, average price US$2,613/MT (€2,365/MT)
WMP index up 2.5%, average price US$3,290/MT (€2,977/MT)

Full results have been published on www.globaldairytrade.info/en/product-results/.

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Iowa Hay Prices Up Over 2023 Prices

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All hay prices in Iowa averaged $182.00 per ton in November according to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report. This was $12.00 above the October price and $10.00 above the November 2022 price. The November 2023 alfalfa hay price, at $189.00, was $4.00 above the previous month and $13.00 above November 2022. The average price received for other hay during November was $149.00 per ton. This was $2.00 above the October price but $3.00 below November last year.

The average price for milk was $19.60 per cwt, unchanged from the October price but $4.90 below November 2022.

The average price received by farmers for corn during November 2023 in Iowa was $4.74 per bushel. This was 22 cents below the October price and $1.76 below November 2022.

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